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STOCK-BASED AWARDS (Tables)
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Arrangement, Option, Activity A summary of stock option activity for the three months ended March 31, 2022 was as follows:
Outstanding Options
Number of Options
Weighted Average Exercise Price
Weighted-Average Remaining Contractual Term
Intrinsic Value (in thousands)
Balance—December 31, 202164,119,902 $1.08 6.6$2,370,666 
Options granted
— — 
Options exercised
(12,103,110)0.76 
Options canceled
(1,316,554)1.60 
Balance—March 31, 202250,700,238 $1.14 7.01$1,231,047 
Options vested and exercisable March 31, 202233,233,881 $0.90 6.32$814,996 
Schedule of Nonvested Restricted Stock Units Activity
A summary of RSU award activity was as follows:
Restricted Stock Units
Time-Based SharesPerformance-Based SharesTotal SharesWeighted-Average Grant-Date Fair Value
Balance as of December 31, 2021
32,210,200 16,024,411 48,234,611 $20.45 
Granted1,615,027 — 1,615,027 26.50 
Vested(1,174,633)(13,934,271)(15,108,904)17.79 
Cancelled/Forfeited(505,116)— (505,116)24.46 
Balance as of March 31, 2022
32,145,478 2,090,140 34,235,618 $22.25 
Schedule of Share-based Compensation Arrangements by Share-based Payment Award The performance condition was satisfied upon the closing of the Merger. The fair value of these performance-based RSUs was measured on the grant date, March 27, 2021, using a Monte Carlo simulation model, with the following assumptions:
Weighted average volatility60.0 %
Expected term (in years)5.0
Risk-free interest rate0.9 %
Expected dividends— 
Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount
Total employee and nonemployee stock-based compensation expense for the three months ended March 31, 2022 and 2021, is classified in the condensed consolidated statements of operations as follows (in thousands):
Three Months Ended March 31,
20222021
Cost of revenue$8,599 $212 
Research and development49,756 12,952 
Selling, general and administrative116,196 91,631 
Total$174,551 $104,795